First Majestic Silver Corp Stock Forecast
Green day on Tuesday for First Majestic Silver Corp stock after gaining 1.97%
(Updated on May 07, 2024)
The First Majestic Silver Corp stock price gained 1.97% on the last trading day (Tuesday, 7th May 2024), rising from $7.11 to $7.25. During the last trading day the stock fluctuated 4.80% from a day low at $7.08 to a day high of $7.42. The price has been going up and down for this period, and there has been a 6.3% gain for the last 2 weeks. Volume fell on the last day by -488 thousand shares and in total, 9 million shares were bought and sold for approximately $66.73 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.81 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 58.77% during the next 3 months and, with a 90% probability hold a price between $10.81 and $14.58 at the end of this 3-month period.
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AG Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The First Majestic Silver Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.86 and $6.72. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for First Majestic Silver Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.84 and $6.73. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, First Majestic Silver Corp finds support just below today's level at $6.84. If this is broken, then the next support from accumulated volume will be at $6.73 and $5.58.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.340 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 4.76%.
Our recommended stop-loss: $7.01 (-3.28%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (AG) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect First Majestic Silver Corp to open at $7.25, and during the day (based on 14 day Average True Range), to move between $6.85 and $7.65, which gives a possible trading interval of +/-$0.401 (+/-5.53%) up or down from last closing price. If First Majestic Silver Corp takes out the full calculated possible swing range there will be an estimated 11.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.50 (3.45%) than the support at $6.84 (5.66%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is First Majestic Silver Corp stock A Buy?
First Majestic Silver Corp holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.339 Strong Buy Candidate Unchanged
Predicted Opening Price for First Majestic Silver Corp of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $7.25 ( 0%) | $7.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.59 | 4.69 % | |
| R2 | 7.46 | 2.90 % | ||
| R1 | 7.38 | 1.79 % | ||
| Current price: | 7.25 | |||
| Support | S1 | 7.12 | -1.79 % | |
| S2 | 7.04 | -2.90 % | ||
| S3 | 6.91 | -4.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.52 | 3.72 % | |
| R2 | 7.51 | 3.59 % | ||
| R1 | 7.50 | 3.45 % | ||
| Current price | 7.25 | |||
| Support | S1 | 6.84 | -5.66% | |
| S2 | 6.73 | -7.17% | ||
| S3 | 5.58 | -23.03% |
AG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.0048 | 0.0816% |
| 2 | Nov 14, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.0046 | 0.0771% |
| 3 | Aug 03, 2023 | Aug 15, 2023 | Aug 31, 2023 | $0.0051 | 0.0832% |
| 4 | May 04, 2023 | May 17, 2023 | Jun 09, 2023 | $0.0060 | 0.105% |
| 5 | Feb 23, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.0050 | 0.0763% |
FAQ
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